Quintessential Florida Keys luxury awaits the most discerning buyer at 35 Cardinal Lane. Set on one of Ocean Reef's most prestigious waterfront homesites, this exceptional 42,750-square-foot parcel boasts an impressive 356 feet of water frontage along Angelfish Creek, offering abundant dockage and commanding, panoramic water views. Tucked away in a private, serene setting, the property presents a rare opportunity for an exquisite renovation or the creation of an extraordinary custom estate. The existing residence spans approximately 8,415 square feet and includes four bedrooms, four-and-a-half baths, and a dedicated office, providing a generous foundation for future vision. Ideally located within the exclusive Ocean Reef Club community, this offering represents a truly remarkable canvas in one of the Florida Keys' most coveted enclaves.
For sale
Price cut: $5M (2/5)
$23,000,000
35 Cardinal Ln, Key Largo, FL 33037
4beds
8,415sqft
Est.:
Single Family Residence
Built in 1995
0.98 Acres Lot
$24,254,400 Zestimate®
$2,733/sqft
$-- HOA
What's special
Four-and-a-half bathsFour bedroomsDedicated officePrivate serene settingAbundant dockagePrestigious waterfront homesiteCommanding panoramic water views
- 730 days |
- 1,568 |
- 20 |
Zillow last checked: 8 hours ago
Listing updated: February 10, 2026 at 06:33am
Listed by:
Amy Fernandez,
Ocean Reef Club Sotheby's International Realty
Source: CLS at Ocean Reef,MLS#: 2675
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 5
- Full bathrooms: 4
- 1/2 bathrooms: 1
Appliances
- Included: Washer, Dryer, Dishwasher, Microwave
Features
- Has fireplace: Yes
Interior area
- Total structure area: 8,415
- Total interior livable area: 8,415 sqft
Video & virtual tour
Property
Features
- Stories: 2
- Exterior features: Dock
Lot
- Size: 0.98 Acres
Details
- Parcel number: 00569444000200
- Special conditions: Traditional
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Condition
- As Is
- New construction: No
- Year built: 1995
Community & HOA
Community
- Subdivision: Not Condo or Condo Outside MLS Area
Location
- Region: Key Largo
Financial & listing details
- Price per square foot: $2,733/sqft
- Tax assessed value: $15,607,455
- Annual tax amount: $101,456
- Date on market: 3/7/2024
Estimated market value
$24,254,400
$22.80M - $26.19M
$9,783/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 2/5/2026 | Price change | $23,000,000-17.9%$2,733/sqft |
Source:  CLS at Ocean Reef #2675 Report a problem | ||
| 3/7/2024 | Listed for sale | $28,000,000$3,327/sqft |
Source: CLS at Ocean Reef #2675 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $105,684 +7.7% | $15,607,455 +7% |
| 2024 | $98,102 +10.9% | $14,590,890 +12.2% |
| 2023 | $88,431 +199.6% | $12,998,724 +194.9% |
| 2022 | $29,512 -3.5% | $4,408,202 +3% |
| 2021 | $30,581 +0.6% | $4,279,808 +1.4% |
| 2020 | $30,388 | $4,220,718 +2.3% |
| 2019 | $30,388 +2.1% | $4,125,825 +1.9% |
| 2018 | $29,756 -0.4% | $4,048,896 +2.1% |
| 2017 | $29,879 +2.3% | $3,965,619 +2.1% |
| 2016 | $29,215 -3.2% | $3,884,054 +0.7% |
| 2015 | $30,196 | $3,857,055 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$129,009/mo
Principal & interest
$113292
Property taxes
$15717
Climate risks
Neighborhood: 33037
Nearby schools
GreatSchools rating
- 8/10Key Largo SchoolGrades: PK-8Distance: 14.8 mi
- 4/10Coral Shores High SchoolGrades: 9-12Distance: 29.2 mi
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